Banimmo (BANI) H2 2024 earnings summary

Executive summary

• Achieved a net profit of €2.9 million in 2024, reversing the €6.4 million loss in 2023, driven by higher rental income and positive revaluations of assets.

• Rental income rose 26% year-over-year to €7.3 million, with occupancy rates improving to 91.4%.

• Portfolio value increased to €151.6 million, with significant investments in sustainable developments and no asset disposals in 2024.

• Maintained strong ESG integration, with 98.2% of CAPEX and 41% of turnover aligned with EU Taxonomy.

• No dividend proposed for 2024 to support future growth.

Financial highlights

• Net profit: €2.9 million in 2024 vs. €-6.4 million in 2023.

• Rental income: €7.3 million, up from €5.8 million (+26%).

• Operating income: €6.8 million, up from €-3.8 million.

• Portfolio value: €151.6 million (investment property €100.5m, stock €46.0m, JV €5.1m).

• Net asset value per share: €6.25 (up from €5.94).

• Net financial debt: €80.3 million; loan-to-value ratio: 44.9% (up from 34.7%).

• Occupancy rate: 91.4% (vs. 90.6%).

Outlook and guidance

• Cautious optimism for 2025, with early signs of real estate market recovery.

• Focus on sustainable, high-quality developments and further ESG integration.

• No dividend distribution proposed for 2024 to prioritize reinvestment.